Saturday, May 28, 2016

I just got off the phone with a caller who was looking for a condo she saw on the Internet for sale in Melbourne, Florida. It sounded like a great deal...two bedroom two bath condo in Florida for $24,000!

Unfortunately she, like many before her, relied on an inaccurate mega real estate website like Zillow.

If you are considering buying a home in Florida please contact a local real estate agent who has access to the local multiple listing service. Realtors can provide current information and provide insight into the local market.

For example, in Melbourne, Florida, it is a seller's market.

Prices are rising. There is competition among buyers for move in ready properties. And the inventory of distressed properties is low.

So while sites like Zillow, Trulia and others may provide information about an area and even links to local resources, remember to contact a local Realtors if you are seriously considering buying a home.

Wednesday, May 18, 2016

Two out of three prospective Viera, Florida home buyers I have spoken with this week shared one characteristic... They had the cart before the horse. In this case the cart represents mortgage pre-approval while the horse represents the home shopping.Buying a house is really a logical process. It has a logical starting point and finishing point.

One of the first things that should be accomplished isunderstanding what you can buy. This starts with a mortgage pre-approval.

Your chosen lender will review your application, check credit history/scores and determine a maximum purchase price for consideration. Note this price is not in stone nor is it the amount a buyer must spend.

I am not a mortgage expert.I leave that up to the professionals who are quite capable of providing advice on qualifications and different loan programs.

Early on ask your lender ask what types of properties you can buy. Sometimes the type of loan program or lack of cash requires restrictions be placed on the specific property sought (i.e. foreclosure or auction property).

Understanding what you can buy also includes the type of property and conditions of sale. Some condo complexes are not FHA or VA approved so they must be eliminated.

The property
type may be restricted such as in no manufactured or mobile homes. Some properties are short sales and the timeline will not fit.

The most important advice I can give prospective home buyers: Know your loan status (amounts,
types of homes, projected costs, etc) and know your mortgage lender's
contact number. If you have a question about your mortgage, ask!

Buying a home is a cooperative effort involving multiple people. Buyers, their real estate agent and mortgage lender all need to be on the same page.

Ready to move to Brevard, County, Florida? I can help you find a local lender, your next home and the moving company to help you out!

Tuesday, May 3, 2016

When a home goes on the market the age of the key components and systems is usually disclosed - especially if they are newer. This is great information for a buyer to know when it comes to the costly systems like the roof and air conditioning (particularly in Florida).

But I suggest sellers make available other information that prospective buyers may find helpful. The more information a prospective Florida home buyer has at their disposal, the easier for them to make a decision to make an offer or move along. Things like...

Utility bills. Perhaps one or two from the hottest months to give a general impression of the higher costs. It would nice to have an idea of where the thermostat is set during these months as well. This is directly linked to the age and energy rating of the HVAC system. Lawn service. Many homeowners do not take care of their lawns and have a service handle the the mowing and other necessary related upkeep (like sprinkler system, trimming trees, etc). How much do you pay? Any recommended service providers?Water costs. How much is your usual monthly water bill? Reclaimed water. Is you lawn system on reclaimed water (what cost) or is there a well. Depending on the lawn (i.e. St. Augustine grass), the amount of water necessary can be greater (and more costly).Pool maintenance. What is the cost of your monthly pool service? Is it self maintained or contracted? If so, who is the the service provider? Cost for trash service. Sometimes it is included in the property tax bill so this is not a needed item. But if it is paid separately, prospective buyers should have idea of the cost.Homeowner Insurance cost. While policy coverage can vary and different carriers charge varying rates, prospective buyers would like to have an idea what to expect.Flood insurance. Is it required? If so, what is the cost? Sometimes buyers will ask about flood potential. In the Brevard County area back in 2008 Tropical Storm Fay dropped like 30 inches of rain on the area in a three day or so period. How did the area handle the deluge?

Beyond the monthly mortgage costs (principal, interest, taxes, insurance) homeowners will have to expect the above costs as well as homeowner association fees, utilities and upkeep.

The more information a prospective buyer has at their disposal when viewing your home the easier it will be for them to make a decision - either good or not.

I held an open house last Saturday at my listing in Rockledge, Florida. It has been quite a while since I put the time into an open house. And it has not changed after all these years.

I love the chance to meet people and tell them about the market and my listings.

Besides, you never know who will show up at any particular open house- maybe even a buyer!

You almost always have some people who need some filler for their afternoon schedule. They have no interest
in buying but just want to see what is out there. I think the car sales
people call them tire kickers!

Sometimes you will have a Negative Nelly in the crowd who is quick to offer criticism about almost everything.

In some cases there are the nosy neighborsalthough my most recent experience lacked any neighbors. I have found through the years the neighbors can help a person sell their home or hinder the process.

Of course HGTV and other similar channels have done amazing things in educating the casual home shopper! They are looking under sinks, opening electrical panels, discussing removing walls and the like. Wow!

When you combine the TV programs with the mega real estate web sites there is an almost educated pool of prospective buyers.In a market with rising prices, these mega websites are more wrong than ever (in my opinion). Relying on some automated computer algorithm located some place across the country
using less than current information to determine what the market is
here in Florida today is asking to be ill informed! Call a local real estate agent. If you have one, tell the agent hosting the open house.

Finally, there are serious prospective buyers who stop by open houses. They may not buy this house but they are serious about assessing what is for sale and if it is a possibility.

So I will be holding another open house at 897 Brunswick Lane in Rockledge, Florida on Saturday May 7, 2016 from 11:00 a.m. to about 3:00 p.m.